JAWS Hurricane Acquisition Corporation announced that it has entered into a security purchase agreement for the issuance of $500,000 convertible unsecured promissory note on December 19, 2022. The transaction included participation from returning investor Hurricane Sponsor LLC. The principal balance of this note shall be payable by the company on the earlier of the date on which the company consummates its initial business combination or the date that the winding up of the company is effective.

The principal balance may be prepaid at any time, at the election of company. Upon consummation of the business combination and at the Payee's option, at any time prior to payment in full of the principal balance of this note, the payee may elect to convert all or any portion of the note into that number of warrants of the post-business combination entity equal to the portion of the principal amount of the note being converted, divided by $2.00. The company will not pay interest on the note.

The note was issued pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.